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Monday, October 10, 2011

30 times worse than Solyndra

Say, how's that GM investment working out for taxpayers?

BailoutCost.com calculates to the second and to the penny how much we are in the hole on the Government Motors bailout.

Briefly: We own about 500 million GM shares. To break even, they need to be sold at $53 per. Right now they're trading at about $23.

Which loses us about $15 billion.

Remember, Solyndra lost us: $0.5 billion.

I'm not real good at math, but that seems like a lot more.

20-30 times more (again, depending on the share price whence we sell).

Besides abrogating bankruptcy law to hand the UAW an immense payoff, let's not forget the administration's skulduggery surrounding Dealergate and the hundreds of selective dealer closings that seemed curiously -- how you say? -- selective and partisan.

When the complete history of the Obama-Holder administration is finally written, I'm certain it will make Nixon-Mitchell look like the kids who stole fizzy-lifting drinks from Willy Wonka's factory.

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